Lazard renegotiates Pescanova’s 2bn Euro debt: pretends 75% relief

Monday, October 21st 2013 - 05:43 UTC

Full article 4 comments

The new chairperson of the Galician multinational firm Pescanova, Juan Manuel Urgoiti, authorized the investment bank Lazard to implement an urgent debt refinancing process with the creditor entities. Read full article

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golfcronie
Falsification of financial records , surely not, must have asked INDEC to look at the figures. How can a company exist by owing so much?
Oct 21st, 2013 - 10:03 am - Link - Report abuse 0
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Sergio Vega
The Chilean branches of Pescanova were the most harmed from this bad management from the Headquarter in Spain because the deliveries of the Chilean fishing and aquiculture companies were not paid back so they fall in default first and in bankruptcy later.
Now those companies are being managed by an external controller as independent with success while they are sold.
Oct 21st, 2013 - 11:32 am - Link - Report abuse 0
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golfcronie
Something smells very fishy to me.
Oct 21st, 2013 - 04:12 pm - Link - Report abuse 0
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ChrisR
Another bunch of spicks helping themselves to Bank customer’s money because we all know that the 50% discount that the banks are “prepared” to allow WILL be charged to their existing customers in higher fees.

Of course the bank officials who agreed credit to this bunch of crooks in the first place won’t be dragged over the coals for failing to do due diligence, will they?

Spain and Argentina, two sides of the same bent coin.

Don’t know how EU bank watchdogs are going to allow a shortfall of 1,667 million Euros against the “equity gap” charging to be written into the accounts. But I suppose it is only pocket change to these guys.
Oct 21st, 2013 - 06:53 pm - Link - Report abuse 0
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